Advertiser Disclosure

Borrower Beware: Good EBusiness LLC

Loans, Student Loans

This company is on the NerdWallet Student Loan Watch List. The list flags student-loan businesses and individuals hit by enforcement actions, court judgments or liens, or bad ratings from the Better Business Bureau. Learn more in Who Gets Listed.

The Federal Trade Commission won a $2.3 million default judgment against Good EBusiness and affiliated companies and owners in 2016 for defrauding student loan borrowers.

The company charged illegal fees between $500 and $800 and promised to lower borrowers’ monthly loan payments, secure debt forgiveness or lift wage garnishments and tax liens, the FTC said in its federal court complaint.

The FTC found the company often did none of those things and failed to refund customers’ money. In some instances, the company entered into forbearance agreements with lenders on behalf of consumers without consumers’ permission, subjecting them unknowingly to further interest payments.

The company also falsely suggested to borrowers that it was affiliated with the U.S. Department of Education, FTC officials said.

Good EBusiness is also known as Student Loan Help Direct, Select Student Loan Help and Select Document Preparation.

Enforcement actions: In addition to the $2.3 million penalty levied by a federal judge, the company and its owners were banned from advertising, promoting or selling debt-relief products.

What the company claims to provide: Lowered monthly payments on student loans, loan forgiveness assistance and help resolving wage garnishments and tax liens

Based: Los Angeles

Management: Tobias West, aka Tobey West, Toby West and Eric West, owner; Komal West, chief operating officer

Source: Federal Trade Commission; U.S. District Court, California